Markt und Staat in einer globalisierten Welt: Die ordnungsökonomische Perspektive / Market and state in a globalized world: the perspective of constitutional economics

Vanberg Viktor J.

ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, 2008, vol. 59, issue 1, 3-30

Abstract: This article examines how the process of globalization affects the legal-institutional foundations of markets and states. Its main thesis is that globalization demands a stricter distinction between two different functions of the state, functions that have traditionally not been clearly separated. The first is the role of the state as the joint enterprise of its citizens, i.e. as the agency through which citizens provide themselves with public services. The second is its role as a ‘territorial enterprise,’ i.e. as the agency through which citizens define and enforce the legal-institutional terms under which economic and other agents, citizens as well as non-citizens, may operate within its jurisdiction. Making this distinction has important implications for taxation and regulation.

Date: 2008
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DOI: 10.1515/ordo-2008-0104

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